AUSTRAC registration and new currency on/off ramps: Xago expands its global reach
Xago is proud to announce a major step in its global expansion strategy: Newly established Xago Australia Pty Ltd has officially secured AUSTRAC registration as a digital currency exchange (DCE), significantly strengthening Xago’s presence in the Asia-Pacific region and ensuring compliance with Australia’s financial intelligence and anti-money laundering regulations.
Furthering its mission to make cross-border payments faster, more affordable and more accessible, Xago has also launched new currency integrations and partnerships:
- Xago is now live with NGN, introducing seamless on- and off-ramp capabilities for the Nigerian Naira (NGN), catering to one of Africa’s largest and most dynamic markets.
- Xago has partnered with OpenPayd, streamlining its euro (EUR) services with improved SEPA and SWIFT facilities for both on- and off-ramping.
- Xago has partnered with Metax, streamlining its United Arab Emirates Dirham (AED) services with improved payment facilities for both on- and off-ramping.
With these advancements, Xago now supports seven major currency-backed stablecoins:
USD, GBP, ZAR, NGN, EUR, AUD and AED.
“These developments reflect our ongoing commitment to empowering individuals and businesses with accessible, compliant and secure digital payment solutions,” says Jurgen Kuhnel, CEO of Xago. “Our AUSTRAC registration, along with the expansion of supported currencies, is a critical step in delivering real impact across borders, especially for emerging markets.”
Xago’s innovative platform continues to transform the way money moves globally, offering quick settlement, low fees and regulatory transparency across multiple jurisdictions.
Disclaimer: Always conduct extensive research before investing in or using cryptocurrency for financial transactions. Understanding the associated risks and benefits is crucial when exploring alternatives to traditional banking.